Limited Liability Companies — The Best of All Worlds?

A limited liability company (1 is a business structure that combines some of tin: best features of sole proprietorships, partnerships, corporations. LLC owners like their counterparts for partnerships or sole proprietorships. report profits or losses on their personal income tax returns. Like a corporation, however, the owners of an LLC have "limited liability," that is. they are shielded from personal liability for debts and claims arising from the business. Limited … [Read More...]